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GM Won't Seek GMAC Reunion

By

Sharon Terlep

Updated March 17, 2010 9:01 a.m. ET

General Motors Co. won't try to regain control of former finance arm GMAC Financial Services, an idea the auto maker had considered as a way to bolster sales and make itself more attractive to potential investors, two people familiar with the matter said.

Earlier this month, the Congressional Oversight Panel suggested breaking apart GMAC, which is surviving on $17 billion in federal funding, and returning control of its auto-lending...